NCUA's weekend seizure of California's Telesis Community Credit Union put a focus Monday on the problems of one credit union's venture into small business lending, participation loans and the downfall of one of its chief advocates, Grace Mayo, its president/CEO.
News Update, April 2, 2012, Telesis Management Taken Over By Premier America
Until the state's housing bust and recession fallout in 2007-09, Mayo had long been a leading advocate among lawmakers at the state and national level pushing more MBL authority.
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